Hanover, NH
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Hanover, NH Real Estate Data

Source & Methodology

Analytics built by:   Location, Inc.

Raw data sources:   American Community Survey (U.S. Census Bureau), U.S. Department of Housing and Urban Development, Federal Housing Finance Agency.

Date(s) & Update Frequency:
  • Home Values, Rents: Reflects Q1 2018. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2016 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more

Hanover Housing Market Information

With a population of 11,416, 2,869 total housing units (homes and apartments), and a median house value of $491,730, Hanover house prices are not only among the most expensive in New Hampshire, Hanover real estate also is some of the most expensive in all of America.

Single-family detached homes are the single most common housing type in Hanover, accounting for 66.85% of the town's housing units. Other types of housing that are prevalent in Hanover include large apartment complexes or high rise apartments ( 22.54%), duplexes, homes converted to apartments or other small apartment buildings ( 5.41%), and a few row houses and other attached homes ( 5.20%).

The most prevalent building size and type in Hanover are three and four bedroom dwellings, chiefly found in single-family detached homes. The town has a mixture of owners and renters, with 41.59% owning and 58.41% renting.

There is a lot of housing in Hanover built from 1970 to 1999 so parts of town may have that "Brady Bunch" look of homes popular in the '70s and early '80s, although some of these houses were built up through the early '90s as well. There is also a lot of housing in Hanover built between 1940-1969 ( 25.83%). A lesser amount of the housing stock also hails from before 1939 ( 21.83%). There's also some housing in Hanover built between 2000 and later ( 11.16%).

Vacant housing appears to be an issue in Hanover. Fully 11.78% of the housing stock is classified as vacant. Left unchecked, vacant Hanover homes and apartments can be a drag on the real estate market, holding Hanover real estate prices below levels they could achieve if vacant housing was absorbed into the market and became occupied. Housing vacancy rates are a useful measure to consider, along with other things, if you are a home buyer or a real estate investor.

Hanover Home Appreciation Rates

Appreciation rates for homes in Hanover have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 12.58%, which ranks in the top 40% nationwide. This equates to an annual average Hanover house appreciation rate of 1.19%.

Over the last year, Hanover appreciation rates have trailed the rest of the nation. In the last twelve months, Hanover's appreciation rate has been 1.97%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Hanover were at 0.81%, which equates to an annual appreciation rate of 3.27%.

Relative to New Hampshire, our data show that Hanover's latest annual appreciation rate is lower than 90% of the other cities and towns in New Hampshire.

Average Home Values

 

Median Home Value:
$491,730

Hanover, NH HOME PRICES

Value Range
> $1,065,479 11.0
$798,947 - $1,065,479 7.7
$532,723 - $798,946 24.6
$426,202 - $532,722 22.5
$319,488 - $426,201 15.6
$213,271 - $319,487 6.4
$106,522 - $213,270 9.7
$53,456 - $106,521 0.3
$0 - $53,455 2.2

Very High for NH
Very High for Nation

Value Relative to Nation Value Relative to State
6.8963503649635 3.82165605095541

Number Of Homes And Apartments:
2,869

Hanover Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
NH*
Compared To
America*
Latest Quarter:
2017 Q4 - 2018 Q1
Last 12 Months:
2017 Q1 - 2018 Q1
Last 2 Years:
2016 Q1 - 2018 Q1
Last 5 Years:
2013 Q1 - 2018 Q1
Last 10 Years:
2008 Q1 - 2018 Q1
Since 2000:
2000 Q1 - 2018 Q1
82.58% 3.35%
10
8
* 10 is highest


Rent & Ownership

 

Average Market Rent:
$1,888 / per month

Homeownership Rate

Homeownership
Owners 41.59
Renters 58.41
Vacant 11.78

Housing Market Details

 

Age of Homes

AGE OF Hanover HOMES
2000 or Newer 11.2
1970 - 1999 41.2
1940 - 1969 25.8
1939 or Older 21.8

Types of Homes

TYPE OF Hanover HOMES
Single-Family 66.9
Townhomes 5.2
Small Apt. Buildings 5.4
Apt. Complexes 22.5
Mobile Homes 0.0
Other 0.0

Home Size

SIZE OF Hanover HOMES
No Bedroom 3.17
1 Bedroom 13.35
2 Bedrooms 19.50
3 Bedrooms 25.58
4 Bedrooms 24.11
5 or more bedrooms 14.30